日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

US EUROPE AFRICA ASIA 中文
Business / Markets

Stocks shoot to seven-year high but volatility remains

(Agencies/chinadaily.com.cn) Updated: 2015-06-05 15:39

Stocks shoot to seven-year high but volatility remains

An investor pays close attention on the stock market at a securities brokerage in Hangzhou city, Zhejiang province, June?5, 2015. [Photo/IC]

China stocks remained volatile on Friday, with the Shanghai benchmark gaining 1.54 percent to close at a seven-year high of 5023.10 points, after shooting above the key psychological level at the opening but then shedding all gains by midday.

Shenzhen's ChiNext index, bellwether of the recent bull run, lost more over 1 percent, with investors becoming increasingly cautious about the growth market.

The Shanghai Composite Index opened above 5,000 points - a key technical resistance level - but ended the morning 0.1 percent lower, at 4,941.01 points. The CSI300 index fell 0.6 percent to 5,148.95 points.

Hong Kong stocks also fell.

High volatility has become a pattern in China's highly-leveraged market, traders said.

On Thursday, before a dramatic V-shaped turnaround, nearly $550 billion of market capitalization had been wiped out.

"It's no longer a market where you can go up and up, with no resistance," said David Dai, Shanghai-based investment director at Nanhai Fund Management Co Ltd.

He said his fund has cut exposure to ChiNext, which trades at 140 times earnings, and is increasing positions in cheaper blue-chips.

The Shenzhen market has caught the attention of Bill Gross, erstwhile Pacific Investment Management Co bond king and now portfolio manager of the Janus Global Unconstrained Bond Fund.

He said in his Twitter account on Wednesday that China's Shenzhen market would be the next "short of a lifetime", but "not just yet."

There are signs the Chinese government is rushing to take advantage of high stock valuations in the stock market.

Premier Li Keqiang said the government would promote domestic listings of start-up firms, while a growing number of Chinese tech companies firms have fallen out of love with America, as they look to drop their listings in New York and head back home.

"We're seeing higher risks in small-cap stocks," said Zhang Chen, analyst at Shanghai hedge fund manager Hongyi Investment.

"But many bluechip companies have attractive valuations. They may take up the baton and lead indexes higher."

Investors are waiting for index publisher MSCI's decision next week on including China A shares in its Emerging Markets index.

HSBC said including China A-shares in global benchmark indices would have huge repercussions, and potentially spur index inflows of billions of dollars.

On Friday, China's banking index lost nearly 3 percent as investors took profit, while real estate stocks were firmer.

The Hang Seng index dropped 0.9 percent at 15:17 local time, to 27,304 points, and the Hong Kong China Enterprises Index lost 1.24 percent, to 13,952.

He Yini contributed to the story.

 

Hot Topics

Editor's Picks
...
主站蜘蛛池模板: 四虎影库在线播放 | 96国产在线 | 国产一区二区视频在线观看 | 亚洲图片日韩 | 伊人精品在线 | 99免费精品 | 久色视频在线 | 懂色av蜜臀av粉嫩av分享吧 | 国产黄色高清视频 | 这里只有精品视频 | 狼干综合 | 亚洲伦理影院 | 蜜挑成熟时在线观看 | 亚欧毛片 | 美女在线播放 | h网站在线观看 | 日日夜夜精品视频免费 | 亚欧洲精品在线视频免费观看 | 免费av看| 美女激情av | 免费黄色小视频在线观看 | 一区二区三区精彩视频 | 欧美日韩在线精品 | 亚洲精品在线免费 | 国产内射毛片 | 精品视频久久 | 亚洲精品综合网 | 中文字幕日本在线 | av毛片在线看 | 国产欧美a| 日韩视频一区二区三区在线播放免费观看 | 狠狠狠狠狠狠狠 | 久久久丁香 | 日韩精品视频在线看 | 国产欧美一区二区精品性色超碰 | 91欧美精品 | 久草一区二区 | 狼性av懂色av禁果av | 日韩毛片在线观看 | 久久99国产综合精品免费 | 五月婷婷av|